Please describe your proposed solution
In our technical approach, we're implementing additional security measures by making lottery tickets non-fungible tokens (NFTs). This ensures each ticket's uniqueness and enhances security by leveraging blockchain technology's inherent immutability. By minting tickets as NFTs on the Cardano blockchain, we provide participants with verifiable proof of ownership, reducing the risk of counterfeit tickets and fraudulent activity
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Furthermore, the front-end development will seamlessly incorporate NFT functionality, empowering users to effortlessly view and manage their tickets. Each NFT ticket will be intricately associated with a unique identifier and metadata, including essential details such as ticket number, purchase information, and lottery specifications. This integration enhances transparency, allowing participants to independently verify the authenticity of their tickets.
Behind the scenes, on the back end, smart contracts will be meticulously programmed to interact with NFT tokens. These contracts will facilitate various functions, including ticket purchases, transfers, and redemption, while rigorously enforcing lottery rules to ensure fairness. Only valid NFT tickets will be eligible for participation in lottery draws, as smart contracts diligently uphold the integrity of the system.
By seamlessly integrating NFT technology, our lottery platform further fortifies security and authenticity, instilling confidence in participants. This innovative approach aligns with Cardano's ethos of innovation and decentralization, aiming to establish a new standard for transparency, security, and accessibility within the global lottery industry.
Technical Solution:
The lottery tickets can be:
- Generated randomly by computer
- The lottery player can generate their own combination of numbers both on the dApp and manually on paper and scanned into the dApp using smart device camera
A ticket is valid for one drawing which are every epoch (~ every 5 days)
Winners of the lottery are calculated as follows:
Accumulation stage
- If in a drawing there are no winners of the grand prize, it accumulates for the next drawing; this can be repeated up to a maximum of 10 epochs (- 50 days)
- If in the 10th iteration there are no winners, the total accumulated prize pool will be redistributed equally among all tickets that have participated in the past 10 drawings
- How the distribution could potentially look
- 90% distributed to anyone who has bought a ticket in the last 10 epochs
- 3% for platform and system improvements
- 7% for the platform creators and stakeholders
Lottery dApp:
This component refers to the dApp where tickets are purchased. Users must "register" beforehand, although registration in a dApp is as simple as connecting the users wallet
Blockfrost:
It is the gateway to connect the lottery dApp with the Cardano blockchain
API:
It is the off-chain backend to randomly generate tickets and also to conduct the drawings, this information is sent to the Cardano blockchain via Blockfrost
DBMS:
Transactional database where ticket information is stored (DBMS is used).
Blockchain Cardano:
In Cardano, tickets are stored, providing immutability and security.
The conceptual of the probability of the lottery (tentative)
Timeline (in spanish)